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Mastercard mulling connected cars and wearable tech as part of 'mobile transformation'

Mastercard is undergoing a "mobile transformation" and is looking at opportunities in the wider mobile sector including connected cars, wearables and the Internet of Things (IoT).

Revealing the news at the Mobile Marketing Association (MMA) London Forum yesterday, for which The Drum was media partner, Marc Michel, vice president/ business leader digital marketing Europe Mastercard, spoke about the disruption in the payment industry and the opportunities for the financial services brand.

"The payment industry is ripe for disruption and change," he said. "Mastercard is undergoing a mobile transformation; when we start thinking about Mastercard as an organisation we think about mobility and not just the mobile device - whether it be wearbales, your car as a mobile device or IoT - there's going to be a lot of changes in how we are constantly connected and how we are using screens. So I think that is going to be an exciting opportunity. At mastercard we have a world of opportunity."

Michel added that Mastercard "could do more" with SMS messaging but warned of the method's "creepy factor" which consumers can see as intrusive.